Oct 19, 2022
Summary:
Where are the precious metals markets going? Furthermore, why are
they going down, and how is the dollar going up? Andy Schectman
comes on the show to break down what has been happening in the
metals markets, which are defying logic in many respects. We’re
seeing more silver being drained at the top, and massive
withdrawals of gold from the exchange—with deliveries to China.
Tune in to hear about what to expect from the precious metals as we
continue to struggle with supply, increasing rates, and uncertain
conditions.
Highlights:
-Precious metals are defying logic in many respects. Andy says he’s
never seen a market quite like this in his career
-Over the last five months, almost 550 tons of gold have been
removed from the metals exchange and have seen four year high in
exports to China. Essentially, we’re seeing massive withdrawals and
deliveries
-Silver is trading at triple the premium it normally does in India,
and India is importing large amounts of silver
-At the very top, we see more silver being drained
-Supply is as stressed and as strained as 2008
-It is getting increasingly hard to maintain a flow of product
-It’s better right now to be early than late
-Even with high rates, it is extremely difficult to get inflation
back under control
-The cost in rolling bonds over has become exponentially more
expensive
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